Significant Anomaly Identified at Morogoro South Project
Dated: 14 November 2012
Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO, AltX: KBO) the multi commodity exploration and development company focused on Tanzania, is pleased to provide an exploration update. The Company has received results from its infill soil and stream sediment sampling at the Morogoro North and Morogoro South projects in central and south eastern Tanzania.
- Numerous gold anomalies have been defined by the soil sampling programme located above and adjacent to the Ruvu Nappe structure
- These anomalies are significant gold bearing targets that will be trench sampled in early 2013 and drill tested later in the year
- One of these anomalies extends over 0.3km2, returned gold values up to 0.41g/t and remains open to the South (Block A)
- A significant barite anomaly was also discovered during the soil sampling programme
- In fill gold-in- stream sediment sampling results from PLs 6717/2010 and 6598/2010 at Morogoro North show low values.
Louis Coetzee CEO of Kibo commented:
“These encouraging results have confirmed our belief that the Morogoro licences have the potential to contain a significant gold deposit. The Morogoro South licence covers a 15km section of the Ruvu Nappe structure that has been demonstrated by this soil sampling programme to be an important control on the gold mineralisation. With numerous targets generated we look forward to reporting the results of an extensive trenching programme and our planned maiden drill programme in 2013.”
While infill stream sediment sample gold results over PLs 6717/2010 and 6598/2010 are low, these areas represent just a small part of the Morogoro North project and the company’s sampling teams have already commenced sampling licences further north closer to the Handeni gold district where significant exploration success has been achieved in recent years. Kibo is optimistic that with its on-going systematic field exploration programmes over the remainder of the Morogoro North project, more significant exploration results should be forthcoming.
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